IRD Debt & Tax Solutions

Dealing with IRD debt?

You don’t have to face it alone.

Finding yourself unable to pay an IRD debt on time can be stressful and overwhelming. The good news is that there are options available, and getting professional advice early can make a significant difference to the outcome.

At Biz Solutions, we have extensive experience working with IRD and can help you understand your options, develop an appropriate strategy and negotiate directly with Inland Revenue on your behalf.

Depending on your circumstances, solutions may include:

Negotiating an instalment arrangement that is realistic and aligned with your expected cash flow.
Requesting remission of penalties and interest, where the relevant criteria are met.
Applying for financial hardship relief, including the potential write-off of some or all of the outstanding debt in appropriate circumstances.
Reviewing your overall tax position to help prevent the situation from recurring.

Don’t ignore the problem

Tax debt rarely disappears on its own. If outstanding tax is not addressed, penalties and use-of-money interest (UOMI) can continue to accumulate, potentially making an already difficult situation much harder to resolve.

IRD’s systems automatically apply penalties and interest when certain filing or payment obligations are not met. Acting early can therefore be critical.

We understand that contacting IRD about financial difficulties can feel daunting. Our role is to take the pressure off you, assess your circumstances and put forward a practical proposal that reflects your genuine ability to pay.

Negotiating with IRD

Successfully negotiating repayment terms or financial relief requires more than simply asking IRD for extra time. A strong application needs to clearly demonstrate your financial position and provide a realistic proposal that aligns with IRD’s requirements.

We can assist with preparing your application, dealing with IRD and negotiating an outcome that provides the best possible path forward.

Our goal is simple: to help you resolve your tax debt and get your business or personal finances back on track.

Tax Pooling

If provisional tax is contributing to your cash-flow pressures, tax pooling may also be worth considering.

Tax pooling provides greater flexibility around provisional tax and can potentially reduce the interest costs associated with underpayments or late payments. Through our relationship with Tax Traders, we can help you understand whether tax pooling is suitable for your circumstances and arrange the process for you.

Take the first step

If you’re worried about an IRD debt, don’t wait for the problem to become bigger. The earlier you seek advice, the more options you may have.

Talk to the Biz Solutions team today for a confidential discussion about your situation. We can help you understand your options and work with you to develop a practical way forward.